warren harding

Monthly Macro Monitor – January 2019

By |2019-01-24T17:30:37-05:00January 24th, 2019|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Politics|

A Return To Normalcy In the first two years after a newly elected President takes office he enacts a major tax cut that primarily benefits the wealthy and significantly raises tariffs on imports. His foreign policy is erratic but generally pulls the country back from foreign commitments. He also works to reduce immigration and roll [...]

How to End a Depression

By |2009-01-08T20:42:56-05:00January 8th, 2009|Economy|

GDP dropped 24% in one year. Unemployment more than doubled. Great Depression? No. The depression of 1921. Never heard of it? That's because it only lasted about 18 months. More interesting is what the government did to combat this nasty economic downturn. President Warren G. Harding cut taxes and reduced tax revenue by a third over two years. He [...]